Sandvik (SDVKY) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Sandvik (OTCMKTS:SDVKY) from a hold rating to a sell rating in a research note released on Wednesday.

According to Zacks, “Sandvik is a high-technology, engineering group with advanced products and a world-leading position within selected areas. Worldwide business activities are conducted through representation in 130 countries. “

Separately, ValuEngine lowered shares of Sandvik from a buy rating to a hold rating in a research note on Wednesday, October 11th.

Sandvik (OTCMKTS:SDVKY) traded down $0.13 during trading hours on Wednesday, reaching $16.56. 3,542 shares of the company’s stock were exchanged, compared to its average volume of 5,043. The company has a market cap of $21,562.90, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.78 and a beta of 0.78. Sandvik has a 1-year low of $11.78 and a 1-year high of $18.40.

An institutional investor recently raised its position in Sandvik stock. Parametric Portfolio Associates LLC lifted its stake in Sandvik AB (OTCMKTS:SDVKY) by 14.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 665,023 shares of the industrial products company’s stock after acquiring an additional 83,981 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Sandvik were worth $10,521,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.07% of the company’s stock.

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Sandvik Company Profile

Sandvik AB (Sandvik) is an engineering company in mining and rock excavation, metal-cutting and materials technology. The Company is engaged in the developing, manufacturing and marketing processed products and services. Its segments include Sandvik Machining Solutions, Sandvik Mining and Rock Technology, Sandvik Materials Technology and Other Operations.

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